Qatar investors eye cable car mass transport project in Philippines

Qatari investors have expressed keen interest on a proposed cable car system to be used for mass public transportation in the Philippines - a first-of-its-kind in Asia, an official has said.
The Aerial Ropeway Transport project, which is expected to rise in Cebu City, was presented recently to Qatari investors by the Cebu Trade Mission, according to Philippine Business Council-Qatar (PBC-Q) chairman Greg Loayon.
Loayon said the project, a pubic-private partnership (PPP) initiated by R3 Industrial Solutions Enterprises, was patterned after the mass-transit cable-car system established by Austrian company Doppelmayr in Bolivia.
“It’s really looking at the synergy that the Philippines and Qatar want to establish, as Philippine ambassador Wilfredo Santos has rightfully said,” Loayon told Gulf Times yesterday.
“We have seen Filipino trade missions come to Qatar over the last few months, particularly in the last quarter of 2015,” he added, referring to investors in the food and cosmetics sector, and a large contingent of Philippine businesses that met with the Qatar Chamber in November.
He also said: “There are other business propositions that the Philippines as a country can look at in terms of infrastructure projects that could benefit from an infusion of capital from a private entity. We don’t have much budget allocation for infrastructure and mass transport systems, but we may have private investors that may have an appetite for these types of projects.”
Loayon, who described the Aerial Ropeway Transport project as a “one-of-its-kind in Asia,” stressed that aside from a PPP scheme for an infrastructure project in the Philippines, Qataris can also explore investments in the tourism and real estate sector.
“I think this is the beginning; there are so many things that can open the eyes of a Middle Eastern investor to the Philippines. Apart from infrastructure, Qatari investors can look at the Philippines as an alternative investment venue for tourism and real estate projects.
“If you’re looking at where the bulk of the population is from a consumer economy to a growing economy, it is Asia; and I think it is high time that people start taking a look at the Asean region as an investment destination, particularly the Philippines, because you could have saturated your investment sources in Europe and the US, but if you’re looking at an up-and-coming investment destination then the best way to start is in the Philippines,” Loayon explained.
He also said Cebu City vice mayor Edgardo Labella, who accompanied the trade mission to Qatar, was impressed with the massive construction activity being undertaken in the country.
“The trade mission also learned that there is a viable furniture business potential in Qatar for Cebu’s progressive furniture industry considering all the construction going on in the country,” Loayon said.
Asked why the trade mission chose Qatar for the Aerial Ropeway Transport project, Loayon said: “When you are looking at a nation that is building itself and its image, it is a great opportunity to be part of that growth.
“If you’re looking at the Qatar National Vision 2030, they have a long-term vision and that is a business opportunity for anybody; and it is about being smart and being part of that vision and growth.”